This image provided by Pop Mart, shows Labubu, the plush toy from China's Pop Mart. (Pop Mart via AP)
Pop Mart has struck it rich. The Chinese company that caters to toy connoisseurs and influencers said this week that it expects profit for the first six months of this year to jump by at least 350% compared with the prior-year period, largely because of its smash hit plush toy, the Labubu. Pop Mart joins a small list of companies that have tapped into the zeitgeist, drawing in millions of buyers who, for one reason or another, simply must get their hands on a toy or gadget of the moment.
But what makes the Labubu a must-have, or any toy for that matter, is a decades-old question that toy makers have yet to figure out.
Here's a look at some of the most popular toys over the years.
Cabbage Patch Kids
Cabbage Patch Kids began as chubby-faced dolls with yarn hair that came with adoption papers. During the 1980s the dolls were so popular that parents waited in long lines at stores trying to get a hold of them. More than 90 million Cabbage Patch Kids were sold worldwide during their heyday.
Cabbage Patch Kids, which were created by Xavier Roberts and initially sold by Coleco, were relaunched in 2004, looking to take part in the successful return of other popular 1980s toys including Strawberry Shortcake, Care Bears and Teenage Mutant Ninja Turtles.
A Cabbage Patch Kid museum named BabyLand General Hospital still exists in Cleveland, Georgia. The dolls entered the National Toy Hall of Fame in 2023.
Beanie Baby
Beanie Babies captivated consumers in the mid-1990s. The cuddly $5 toys were under-stuffed for maximum hug-ability, stamped with cute names on their Ty Inc. tags, and given limited edition runs.
Many people collected, traded and sold the toys with the hopes that their value would just keep going up at the dawn of the e-commerce age. It made some people money, and the founder, Ty Warner, a billionaire in three years.
In 2014 Warner learned that he would not go to prison for hiding at least $25 million from U.S. tax authorities and instead received two years' probation. Warner, one of the highest profile figures snared in a federal investigation of Americans using Swiss bank accounts to avoid U.S. taxes, had pleaded guilty to a single count of tax evasion.
Tamagotchi
Looking for a pet without the real-life responsibilities? Well then the Tamagotchi electronic pet from Bandai was for you. Consumers were hooked on the egg-shaped plastic toy that first launched in Japan in 1996 and became a craze worldwide in the late 1990s and 2000s.
Users were tasked with taking care of their virtual pet by pressing buttons that simulate feeding, disciplining and playing with the critter on screen. If a Tamagotchi is neglected, it dies.